Capital Markets Partner Bill Nelson, based in Shearman & Sterling's Austin office, spoke with Crunchbase about the companies and industries -- including FinTech -- that SPACs are currently targeting for acquisitions.
Bill Nelson, a partner in the capital markets practice at Shearman & Sterling, said energy transition and even traditional energy have proven popular to SPACs, as has fintech/SaaS... “It’s front and center,” Nelson said of fintech... Nelson, however, agrees SPACs are pretty industry agnostic. Targets generally are industries that have IPO-ready companies that can benefit from the certainty and speed of a De-SPAC — or merger — process. “Any industries that have public-ready companies and high-growth projections are targets for SPACs,” he said. The newly introduced $2 trillion infrastructure bill by President Joe Biden could make SPACs eye more clean energy companies in wind and solar, although that still has yet to be determined, Nelson added.